You asked: Does networking really work?
Why do some people think that networking is the evil of all evils?
Gulf News interviews four top level execs in the UAE about the importance of networking.
Graham Weihmiller, Chairman, CEO BNI
Does networking actually work?
Absolutely! Imagine two people are each starting a cleaning business. One is determined to do everything on his own, setting up systems, creating the business plan, writing marketing campaigns, etc. But the other chooses to attend networking events to leverage her community skills, talk about her new company on a consistent basis, and make professional connections with experts in their fields. Who do you think will be more successful? Who do you think will be able to save more resources by utilizing the skills of others? Plus, it’s called netWORK for a reason. When you are networking, you are thinking about your business, thinking about your product or service, thinking about your why, and making connections with like-minded professionals who have been in your shoes.
What are some questions that could get you started at a network event, or even a work event?
This might sound counter-intuitive at first, but start by asking about the other person. Ask them about their business, ask about how long they’ve been doing it, and most importantly, ask for their ideal referral or how you can help them. Strike up a conversation the way you would want one started with yourself. Once they see how interested you are in their business and the ways in which you could possibly help them, they’ll reverse that conversation and ask you the same in return.
Do you think that networking could actually help individuals achieve certain things in their careers? (new business, a promotion etc.)
Of course! Networking helps you get out of your comfort zone and your usual way of thinking to talk to new people and other business professionals. By doing this, you are able to open your mind to new ideas while increasing the number of people who know who you are and what you do. This could help you to have a breakthrough on a project at work that results in recognition from your team and potentially a promotion. Or, you could meet someone who shares your passions and you end up going in to business together or perhaps making a change for your professional advancement. Connections and knowing the right people at the right time are a huge factor in helping you to get ahead – networking facilitates making those connections.
What are some tips to growing your network?
Push yourself to talk to new people on a consistent basis. Maybe you set a goal to meet 3 new people each month. You can do this by attending networking events, striking up conversation at your gym, or asking your existing network for introductions to specific people. The key is being open-minded and ready for new connections.
Why do some people think that networking is the evil of all evils? (as in so much work and so tiring, you always have to be “on”)
Everyone functions a little differently, and that’s ok. Some people gather their energy from social situations and thrive in a public setting. Other people are a little nervous in crowds or hate the idea of talking to new people. It’s all about finding what works for you. If you don’t like meeting new people all the time, then find a group of the same people you can get to know over time and then empower them to talk about your business and become your sales force. Hire a team around you that has strengths that balance your strengths. At the end of the day, it is work to grow a business – you just need to find the most efficient work for you and your team.
What are the benefits of a large network?
The more people who know you and who know your business, the higher referral potential you have – it’s as simple as that. Each new person who you meet and talk to about your person adds another person to your sales force. If you can effectively talk about your business, the core of what you do and why, the experience you have in that field, and the ideal referral you’re looking for, then you empower each person you network with to go out in to the world and share that information with more people – exponentially increasing the number of people who know about you and your business.
Vishal Pandey, Director, Data On-A-Plate
Does networking actually work?
Yes of course. The fundamental definition of networking as per me is two fold - doing business once a business relationship is nurtured and formed. In essence what happens is that "trust "is formed which forms the basis of the partnership.
What are some questions that could get you started at a networking event, or even a work event?
What do you do? What is your business / business model? and lastly, how can I be of any help to you?
Do you think that networking could actually help individuals achieve certain things in their careers? (new business, a promotion etc.)
At the end of the day networking is all about building meaningful relationships which can be long lasting.
What are some tips to growing your network?
Spend 50 per cent of your time with new people consciously. A mantra given by none other than the most successful entrepreneur Micky Jagtiani, Founder of Landmark Group.
Why do some people think that networking is the evil of all evils? (as in so much work and so tiring, you always have to be “on”)
(as in so much work and so tiring, you always have to be “on”) Networking is all about farming. It is a marathon and not a 800 meter sprint.
What are the benefits of a large network?
More opportunities, higher success / conversion rate, more learnings.
Gautam Ganglani, Right Selection, Managing Director
Does networking actually work?
Yes networking works both personally when making new friends and in the professional world when meeting prospects and existing customers.
It is a great opportunity to build rapport and enhance relationships by having conversations with like minded contacts, sharing ideas and finding common interests.
What are some questions that could get you started at a networking event, or even a work event?
Can you share me more about your company and the services you provide?
Which industries do you primarily serve?
Are there any areas you are looking to expand your business?
Do you attend any other networking events, which you have found valuable?
Do you think that networking could actually help individuals achieve certain things in their careers? (new business, a promotion etc.)
Yes networking is a powerful strategy to grow your contacts and build relationships with a diverse portfolio of people. The more people you know, the more you have a contact to reach out to when you have a challenge. You will always be in a much better position to find a solution to your challenge or to help your contact by connecting them with the right service provider.
What are some tips to growing your network?
When you are looking to grow your network understand what is the profile of people you need to meet. Is it a specific designation like HR Managers, a particular industry like food & beverage, a specific community like Indian Businessmen to Male/female, a certain age bracket or a particular hobby that you are passionate about.
Once you have that clarity go online and search for networks which attracts the right profile of people you are looking to connect with. Ask your existing friends and professional contacts if they have heard or attended such networks. Then go with a friend to attend so you both benefit from networking together.
Why do some people think that networking is the evil of all evils? (as in so much work and so tiring, you always have to be “on”)
Many times networking is early in the morning, late in the evening and involves a lot of conversations so these are some reasons it is regarded as tiring.
What are the benefits of a large network?
There is a quote which says, “The bigger your network, the bigger your net worth.”
Net-worth is not only about money, however it means you are very resourceful to being able help your friends, family & business with positive prompt solutions by referring them to contacts for a need they have. The biggest benefit is you are regarded as problem solver & a great asset to any business to help them grow successfully.
Rajesh Nagjee, CEO Coach, CBG
Does networking actually work?
Networking is a skill and a process that can be learned, practiced and mastered. Going to networking events without mastering the skills and process is going to produce a bunch of business cards exchanged without much productive gain. The best place to learn networking is to take a course with Asentiv that teaches the art and science of networking in a highly impactful and effective way.
What are some questions that could get you started at a networking event, or even a work event?
The best questions revolve around asking 'how can I help you connect with people/opportunities meaningfully?' - Networking is about building relationships, trust and likability. People are supremely interested in what they want, not what you want.
Do you think that networking could actually help individuals achieve certain things in their careers? (new business, a promotion etc.)
Done correctly, networking can help individuals achieve whatever they are looking for.
What are some tips to growing your network?
The fastest way to grow your network is to stay focused on how you can help others succeed in whatever they are pursuing. The goodwill generated will pay rich dividends over time. Networking is a long-term farming operation. The harvest will come - but not instantly.
Why do some people think that networking is the evil of all evils? (as in so much work and so tiring, you always have to be “on”)
Faulty beliefs, low skills, focused on self-gain, no process, no consistency - these are the sure-fire ways of being permanently stuck in a low-gain, high-input set of activities. Very frustrating, leading to blaming networking as an evil of all evils.
What are the benefits of a large network?
Robin Dunbar, an anthropologist, discovered that human beings are capable of maintaining 148 meaningful relationships. This is popularly called the Dunbar number. The operative word here is 'meaningful'. Nurtured properly, these 148 relationships is all that one needs for a lifetime worth of referrals, support and information. The magic lies in the Dunbar number of 148 meaningful relationships each one in your network has - leading to a mind-boggling set of people you can reach.
Chirantan Joshi-National Director, Corporate Connections UAE
Does networking actually work?
Yes, it does. It’s important here to understand what Is meant by networking. It is any opportunity where you get to build the relationships with other people, and building relationships take time and effort. As long as we are ready to put in both, networking works. If you are looking for a quick gain, then networking benefits may be short lived.
What are some questions that could get you started at a network event, or even a work event?
People love talking about themselves hence asking questions which give them opportunities to tell their stories is a good start.
Questions like: What do you love the most about what you do? How did you get into this line of business? What is the one thing that differentiates you from your competitors? Keep the focus on them. And this works because they remember you for asking these questions that make them talk.
Do you think that networking could actually help individuals achieve certain things in their careers? (new business, a promotion etc.)
Yes, it helps to know more people. And more importantly to know people who know other people. When you go in with an open mind, knowing that building relationships take time and effort, and when you are ready to put their interest before yours, it will work. You will pick up leads, get rereferrals and new business. In an organization it improves your visibility and access to senior management which is important for recognition and reward.
What are some tips to growing your network?
The most important thing is to keep in touch after the first contact. Always look for an opportunity to help them connect with what they are looking for. Having a calendar to regularly attend different networking opportunities can help expand your connections.
Most people file away the business card after the first meeting. Read my blog on what to do next.
Why do some people think that networking is the evil of all evils? (as in so much work and so tiring, you always have to be “on”)
Networking may be seen as an evil if you are not genuine about building relationships and looking for quick gains. Networking is fun and fruitful if you enjoy meeting people, hearing their stories, helping them out and hope for reciprocal gains. It has received a bad names because of the commercial meet-ups and speed-networking. Make it a way of life, and see how the benefits surpass the effort.
What are the benefits of a large network?
Larger your network, lesser the effort and larger the benefits. From my experience, as our network grows, the opportunities grow exponentially. Metcalfe’s Law states that effect of a telecom network expands at a rate equal to the square of connected nodes (users) of the system. This is also known as the Multiplier Effect.
The benefits are not just from the people you know, but also from the people that your group knows. If our primary contact relationship is strong, we will benefit from their contacts too. In my blog on the Power of Infinite network I discuss this phenomenon.
Phil Bedford, Managing Director / Master Franchisee, Asentiv GCC and S. India
Networking is one of the most powerful business tools and the most underutilized and misunderstood. Let me explain: People “Go networking” for different reasons.
1. They go Networking to get a job
2. They go Networking to meet people in the same field for information or support
3. They go Networking to meet clients
Number three above is often the most misunderstood of the three reasons to network and often the one that's strikes the most fear into people.
The act of attending a “networking event” where we enter an event and immediately start handing out business cards hoping to meet a client. This leads to an often-uncomfortable environment where people are basically cold calling face-to-face, collecting cards and then returning to the office to then spam the people they met. Which is why it has a bad reputation- This is not networking.
Master Networkers understand that Networking is the start of a relationship and not the close. All the best relationships start softly and grow because we give and help each other. Let me use a metaphor.
Would you walk directly up to a stranger of the other gender and say “marry me”. No – right, it’s just too cold and inappropriate. Pretty much every culture would do this differently. We “interview” each other to see if we are compatible. We chat, we have a coffee, we help each other, we decide if we like each other. It is a gradual process. Networking is the same.
An individual who is highly “networked” which means they have multiple highly credible relationships in multiple sectors is a rare and valuable business resource. Their skills can be used to quickly and easily meet new clients, find information and solve problems. The way we become highly “networked” is by Networking and meeting people and then investing in those relationships so that we have a “bank of goodwill” that we can call in when we need help.
Small Business owners are often more likely to understand the value of networking and have stronger network because they have a shortage of resources when they start a business and have no choice but to look to people to help. They often record new clients acquisition as between 60 and 100 per cent through networking or referrals. Larger companies who have more resources such as manpower and marketing spend would do well to train their staff to act like small business owners and they could vastly improve the efficiency and profitability of their companies. However, employees of larger companies will tend to network for jobs or information rather than clients.
Networking is a skill that we should learn not assume, if we really want to make it a profitable exercise, just like we learn sales, design, marketing, accounts and the law.
In summary think of it this way: Networking is about farming not hunting